COMPANY ACT 203 UPDATE: NEW DEFI. OF SUBSIDIARY CO “subsidiary company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company— (i) controls the composition of the Board of Directors; or (ii) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies:[SEC 2 (87)] CHANGE; EARLIER IN CO ACT 1956 THERE WAS ONLY EQUITY SH CAPITAL BUT NOW EQUITY N PREFERENCE BOTH WILL BE CONSIDERED
Posted on: Fri, 20 Sep 2013 15:31:50 +0000
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